The leading AI-powered HR solution provider in the most significant HR tech deal in the MENA Region
RIYADH, Saudi Arabia, Aug. 17, 2022 (GLOBE NEWSWIRE) -- KABi Technologies (formerly OHR), a leading HR consultancy company, has announced the acquisition of BLOOVO, the top AI-powered recruitment solutions, in the largest acquisition of its kind in the HR technology sector in the Middle East and North Africa.
KABi, which has a capital of SAR 200 million, explained that this acquisition has contributed to the creation of a vast regional entity specialized in providing exceptional solutions that support the digital transformation of the human resources sector in the Kingdom, in line with the Kingdom's Vision 2030.
In this regard, the CEO and Vice Chairman of the Board of Directors of KABi, Khalid A. AlOraij, commented on this acquisition, saying: "This acquisition will enable the company to strengthen its position to be the pioneer in the field through its innovative solutions that will revolutionize the current HR practices to be automated."
In addition, as a result of the integration and the future vision of the company's leadership, this acquisition will enhance the company's capability to expand and innovate. He added: "the global investment in digital transformation is expected to reach $1.8 trillion in 2022, with a growth rate of 18% compared to 2021. It is worth noting that the global HR technology market is also expected to reach $90 billion in 2025. In the same context, the volume of investment in the artificial intelligence sector will reach $190 billion by 2025, an increase of three times what it was in 2020."
On this occasion, Dr. Ahmad Khamis, CEO of BLOOVO said: "We are happy to be joining hands with KABi by integrating BLOOVO's AI-enabled solutions with KABi's solutions. We are talking about a local giant in creating the HR Tech domain. Integrating BLOOVO into KABi will provide a brilliant talent acquisition experience that operates in tandem with KABi's offering to deliver hiring success and achieve the sought-after digital transformation in HR."
It is worth mentioning that this acquisition will empower KABi to control a larger market share in the human resources technology sector, drive the pace of business growth, improve the quality of solutions and services provided to companies and individuals in addition to maximizing competitiveness, developing corporate governance and creating more excellent added value through the accumulation of partner experiences and joint services.
KABi, via BLOOVO, has won several international awards accrediting its leadership in the HR Tech domain in MENA. In addition, it has revolutionized the e-recruitment landscape by being the pioneer in embedding AI in the hiring process. BLOOVO has five main products: HYRDD - the market leader AI-powered Applicant Tracking System; BLOOVO Job Board with more than 2 million profiles & +3,500 companies; BKATHON - its cloud-based virtual hackathon platform; INVIEWS - its AI-powered video interviewing tool; and Algorithmus - being an AI-as-a-Service platform integrating with other recruitment systems to rank applicants against job descriptions using AI, in real-time through its API.
"With this acquisition, KABi is at the forefront of recruitment technology innovation, having a great team to drive this vision. KABi's acquisition of BLOOVO will help prospective customers in accelerating the transition to a digitized, automated, and smart experience-driven recruitment function, as well as help stakeholders with localization mandates & nationalization plans to achieve their objectives in line with vision 2030, as well as achieving enterprises' own hiring goals in an efficient, smart & timely manner," added Khalid Al Oraij.
KABi has a vision of being the pioneers of digital transformation in the HR Tech sector and being the ideal partner for creating sustainable value through its innovative solutions that ensure a positive impact. KABi is also on a mission to develop and apply the best human capital practices powered by AI algorithms to improve work environments and facilitate business processes.
Name: Yara Abdulaziz Mohammedali
This content was issued through the press release distribution service at Newswire.com.